05 Nov 2014   |   Network Updates

Cambridge Epigenetix raises $5.5M in Series A funding

Cambridge Epigenetix (CEGX), a UK-based life sciences company, has announced the recent completion of a $5.5M Series A financing round led by New Science Ventures and the appointment of Dr Fedja Bobanovic as CEO. Joining the financing round were founding investors Syncona Partners and Cambridge Enterprise.

CEGX is a rapidly growing company focused on developing innovative methods and technologies to revolutionize the fields of epigenetics and personalized medicine. The company was founded in 2012 with its proprietary ox-BS methodology, which pioneered quantitative, single-base resolution sequencing of 5-hydroxymethylcytosine (5hmC) & 5-methylcytosine (5mC). In 2013, CEGX launched the TrueMethyl™ kit, allowing researchers to access ox-BS sequencing for the first time. The TrueMethyl™ kit is now in use in labs around the world and has already formed the technological backbone of several breakthrough epigenetic papers.

Cambridge Epigenetix has received considerable attention from the investment community over the past year, and we are delighted to welcome New Science Ventures to the board,” said Dr Martin Murphy, CEO of Syncona Partners and Chairman of the Board at CEGX. He added: “We would also like to welcome our new CEO, Dr Fedja Bobanovic, who has an exceptional track record of generating growth in life sciences businesses.“

Commenting on the financing, Dr Bobanovic, who joined CEGX from Danaher Corp. said, “Cambridge Epigenetix plans to use the funding to continue to explore a range of commercial applications for our oxBS-sequencing products in the life sciences industry. We also remain dedicated to investing in R&D, as we foresee that an IP-backed portfolio will continue to be of critical importance to the company’s future.”

Somu Subramanian, new board member and founding partner of New Science Ventures, commented: “We are excited to begin our partnership with the talented team at Cambridge Epigenetix. CEGX’s technology is uniquely important to the field of epigenetics and we anticipate that it will play a catalytic role in shaping the landscape of personalized medicine.”

Dr Bobanovic added, “We are pleased to have the continued support of our existing investors and look forward to working with our new investors, New Science Ventures, who brings deep scientific expertise and years of experience in building valuable life sciences companies.”

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